-The Hindu It was the visible hand of the state rather than the invisible hand of the market that helped the developing world catch up with the industrialised countries The emerging significance of developing countries, which gathered momentum after 1980, is beginning to shift the balance of power in the world economy. It could lead to a profound transformation in the next 25 years. This unfolding reality must be situated in the...

-The Business Standard Says electronic payments can help manage fraud and leakage risks in government payment programmes The role that technology plays in the economy has become so integral that it can't be ignored, said a recent report by the World Bank. According to the report, electronic payments can save over one per cent of India's gross domestic product (GDP). "Cash may still be king at times, but compared with electronic payments, cash...

-The Telegraph India is not creating enough productive jobs — and the spirit of enterprise is being strangled by excessive and onerous labour laws. The Economic Survey tabled in Parliament today said: “India has to focus on an agenda to create productive jobs outside agriculture, which will help us reap the demographic dividend and also improve livelihoods in agriculture.” The survey, which singled out job creation for special mention with an entire chapter...

-PTI The retail sector, where the government permitted foreign direct investment in multi-brand, courted controversies during the year with several opposition parties making it a political issue in Parliament. Even before its entry into multi-brand retail, the global chain Wal-Mart was grappling with various issues, including spending money in the US on lobbying for entry into India. Adding action to the drama was Swedish furniture chain IKEA's hectic bargaining with the government over...

-The Economic Times MUMBAI: The Reserve Bank of India has revised the definition of priority sector to include corporates engaged in agriculture and allied activities, and amended the limits for certain categories. In a circular issued to commercial banks on Wednesday, the RBI has clarified that loans to corporates, including companies formed by individual farmers, partnership firms and co-operatives of farmers directly engaged in agriculture and allied activities, will now be considered...